Why Government Bonds are Sold by Auction and Corporate Bonds by Posted-price Selling
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چکیده
منابع مشابه
Why Government Bonds Are Sold by Auction and Corporate Bonds by Posted-price Selling
When information is costly, a seller may wish to prevent prospective buyers from acquiring information, for the cost of information acquisition is ultimately borne by the seller. A seller can achieve the desired prevention of information acquisition through posted-price selling, by offering prospective buyers a discount that is such as to deter them from gathering information. No such preventio...
متن کاملPosted price selling and online auctions
a r t i c l e i n f o a b s t r a c t JEL classification: C70 D44 D61 Keywords: Online auctions Posted price selling Buy-it-now Allocative inefficiency Random matching eBay auctions In an auction-style listing at eBay, sellers have the option to set a posted price (also known as buy-it-now price), which allows buyers to instantly purchase an item before the start of the auction. This paper prov...
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The chemistry of disulfide exchange in biological systems is well studied. However, very little information is available concerning the actual origin of disulfide bonds. Here we show that DsbB, a protein required for disulfide bond formation in vivo, uses the oxidizing power of quinones to generate disulfides de novo. This is a novel catalytic activity, which to our knowledge has not yet been d...
متن کاملPrivate-Value Auction Versus Posted-Price Selling: An Agent-Based Model Approach
C. N. Boyer 9 Department of Agricultural and Resource Economics, University of Tennessee, Knoxville, TN, U.S.A. 10 Email: [email protected] 11 12 B.W. Brorsen 13 Department of Agricultural Economics, Oklahoma State University, Stillwater, OK 74078‐6026 14 Email: [email protected], FAX: (405)744‐8210 15 16 J. N. Fain 17 Department of Economics and Legal Studies in Business, Oklahoma State...
متن کاملEuro Corporate Bonds Risk Factors ∗
This paper investigates the determinants of credit spread changes on bonds denominated in Euro. The analysis is carried out using a panel data on Euro bonds. We try to asses the relative importance of market and idiosyncratic factors in explaining the movements in credit spread. Because credit spread changes can be easily viewed as an excess return of corporate bonds over treasury, we adopt a f...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2003
ISSN: 1556-5068
DOI: 10.2139/ssrn.410728